ABA Cautions about Increase in Phishing Scams

ABA (American Bankers Association) lately issued an alert that phishing scams were unexpectedly rising all over the country. SCMagazineUS.com published this on October 27, 2011.

The Association highlighted that cyber-criminals were utilizing phishing e-mails for duping end-users into believing that because of fraudulent operations, it became necessary to shutdown their accounts. Thereafter, end-users were being directed for providing their debit/credit payment cards' details consisting of card verification i.e. CV code for account security and expiration number towards making their accounts active again. Indeed, they were utilizing the same tricks for compromising crucial information through text messages as well as automated dialers, ABA pointed out.

But if anybody did as directed, he became endangered with getting his details utilized for fraudulently bought services or goods alternatively for acquiring loan, ABA's advisory added.

Remarking about these assaults, Vice-President of Risk Management Policy Doug Johnson at ABA stated that cyber-crooks characteristically escalated their phishing attacks towards year-end vacation time as also after natural calamities. SCMagazineUS.com published this.

Johnson further stated that consumers must be continuously educated, while Internet-users reiterated from time-to-time that the danger prevailed as also that they required safeguarding themselves.

It, in addition urged people not to divulge their financial or other personal details while answering an uninvited phone call or e-mail irrespective of it appearing real. Besides, they must talk to the bank prior to answering e-mails, which intimidated recipients with various consequences incase they failed to abide by the requested directions.

Also, according to ABA, users must verify their bank account and credit card statements routinely to see if there's any unauthorized transaction. If discrepancies are found, they must report instantly, the Associations states.

And while providing financial details through the Internet, users must see if the security padlock is visible inside the Web-browser. Notably, several users secure their IP addresses, albeit all don't utilize "https."

Eventually, dubious operations must be reported to IC3 (Internet Crime Complaint Center), an association combining the National White Collar Crime Center with the Federal Bureau of Investigation, ABA concluded.